Exide Industries Q1 Review - Revenue Beat; Margin Impacted By Higher Raw Material Costs: Motilal Oswal
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Motilal Oswal Report
Exide Industries Ltd.’s topline performance was driven by growth in both auto and industrial segments in Q1 FY22, while margin was restricted due to commodity cost inflation.
We expect a cyclical recovery in demand from the original equipment manufacturer segment in FY22, along with strength in the aftermarket segment, with a continuous shift from the unorganised to the organised segment.
We largely maintain our earnings estimate.
We prefer Exide Industries as it offers a superior risk-reward considering its market leadership, technological alliances, backward integration, and better mix.
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